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H.R. 3666 113th Congress House

Sequester Delay and Stop Tax Haven Abuse Act

Official title: To alleviate the sequestration and to end offshore tax abuses, to preserve our national defense and protect American families and businesses from devastating cuts, and for other purposes.

Introduced: December 5, 2013 Introduced by: Rosa L. DeLauro Democratic · Connecticut See on congress.gov
Taxation Accounting and auditingAdministrative law and regulatory proceduresAdministrative remediesAppropriations
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Bank accounts, deposits, capitalBanking and financial institutions regulationBudget deficits and national debtBusiness investment and capitalCivil actions and liabilityCommodities marketsCommodity Futures Trading CommissionCongressional oversightCorporate finance and managementCredit and credit marketsDepartment of the TreasuryEvidence and witnessesExecutive agency funding and structureFinancial services and investmentsForeign and international bankingForeign and international corporationsFraud offenses and financial crimesGovernment information and archivesGovernment trust fundsIncome tax creditsIncome tax deductionsIncome tax exclusionInterest, dividends, interest ratesJurisdiction and venueSales and excise taxesSecuritiesSecurities and Exchange Commission (SEC)Tax administration and collection, taxpayersTaxation of foreign incomeWages and earnings
This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 5, 2013
Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Dec 5, 2013
Introduced in House
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 Latest action December 5, 2013

Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Plain-English summary Congressional Research Service

Sequester Delay and Stop Tax Haven Abuse Act - Title I: Extension of Sequestration - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to: (1) repeal the across-the-board reductions in discretionary spending mandated by such Act in FY2014 and FY2015, and (2) increase the budget authority in FY2016 for the security and nonsecurity budget categories.

Title II: Deterring the Use of Tax Havens for Tax Evasion - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that significantly impede U.S. tax enforcement.

Amends the Internal Revenue Code to:

  • expand reporting requirements for U.S. persons who hold an interest in a passive foreign investment company;
  • establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act;
  • treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for U.S. tax purposes;
  • require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts;
  • treat swap payments sent offshore as taxable U.S. source income; and
  • impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons).

Title III: Other Measures to Combat Tax Haven Abuses - Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission (SEC) to report annually, on a country-by country basis, on employees, gross revenues, payments made to governments, and other financial information; and (2) impose a fine for failure to disclose any holdings or transactions involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements.

Makes investment advisers and persons engaged in forming new business entities subject to anti-money laundering requirements.

Title IV Ending Corporate Offshore Tax Avoidance - Imposes new restrictions on U.S. corporations and other entities with foreign income with respect to: (1) tax deductions allocable to deferred foreign income, (2) the recalculation of foreign income taxes, (3) intangible property transferred overseas, (4) tax evasion activities by U.S. corporations reincorporating in a foreign country, and (5) loans to U.S. shareholders from controlled foreign corporations.

 Related & companion bills 6
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
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APA
U.S. Congress. (2026). H.R. 3666: Sequester Delay and Stop Tax Haven Abuse Act. 113th Congress. Open America. https://openamerica.io/bill/113-HR-3666/
MLA
"H.R. 3666: Sequester Delay and Stop Tax Haven Abuse Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-3666/.
Bluebook (legal)
H.R. 3666, 113th Cong. (2026), https://openamerica.io/bill/113-HR-3666/.
Markdown link
[H.R. 3666: Sequester Delay and Stop Tax Haven Abuse Act](https://openamerica.io/bill/113-HR-3666/)
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